Understanding the Great Depression

What term did John Green use to describe the sudden impact of economic uncertainty?

• Boom

• Pow

• Crash

• Kaboom

Which sector was NOT mentioned as suffering before the Great Depression?

• Residential construction

• Automobile manufacturing

• Agriculture

• Banking

What is NOT true about the Great Depression's start?

• It began with the stock market crash in 1929.

• It was caused by poor economic conditions in the 1920s.

• Agricultural sector's struggles contributed to it.

• Credit and installment buying were unsustainable.

What was a major cause of the Great Depression according to the video?

• Weak banking system

• High tariffs alone

• Massive unemployment

• Stock market crash

What was the effect of deflation during the Great Depression?

• Increase in money circulation

• Businesses hiring more workers

• Prices dropping and businesses cutting costs

• Banks lending more money

Why didn't the Hoover administration implement Keynesian economic policies?

• Keynes' main work was published after the Depression started.

• They disagreed with Keynes' theories.

• Hoover had a TARDIS.

• They believed in a strong federal government intervention.

What international event did Hoover blame for the Great Depression?

• The signing of the Versailles Treaty

• World War One

• The stock market crash of 1929

• The establishment of the Federal Reserve

What was the primary effect of the Hawley Smoot tariff?

• Increased international trade

• Lowered prices for consumer goods

• Reduced buyers for American goods

• Stabilized the banking system

What was Hoover's major action to combat the Great Depression?

• Implementing Keynesian economics

• Creating the Reconstruction Finance Corporation

• Lowering taxes

• Creating the New Deal

What percentage of the labor force was unemployed by early 1932?

• 10%

• 20%

• 30%

• 40%